NDXUSD

The NASDAQ100 index is under pressure as the U.S. 10-year treasury yield hovers around 4.63%. This situation limits upward movements on the index, while the restraint in bond yield increases prevents the pressure from deepening further. Asian markets made a weak start due to trade tensions and low trading volumes before the holiday, and U.S. index futures are experiencing limited losses following Friday’s losses. Economic data such as the Chicago PMI and pending home sales may provide clues about the future performance of the U.S. economy.

From a technical perspective, the NASDAQ100 index continues to trade within the 21600 – 21800 support zone. Sustained price action above the 21800 level could support a positive trend and trigger a movement towards the 21900 and 22000 resistance levels. Otherwise, a close below the 21600 level may indicate a decline towards the 21500 and 21400 levels. The RSI indicator currently shows a neutral trend, indicating the market is in search of a direction. The index, which saw a 0.29% drop compared to the previous day, may be in a short-term trend-setting process.